Wolters Kluwer Compliance Solutions and NYDIG, a leading provider of bitcoin platform solutions, have reached an agreement whereby Wolters Kluwer will act as the exclusive preferred provider for interested financial institutions seeking assistance in meeting their regulatory and compliance obligations while providing services for Bitcoin programs to investigate and implement.
Wolters Kluwer is able to provide regulatory compliance solutions and services ranging from a deposit disclosure program to regulatory risk assessments for institutions wishing to provide their clients with access to the bitcoin services provided by NYDIG.
This collaboration grants Wolters Kluwer the rights as the exclusive provider of Bitcoin Deposit Disclosure Program NYDIG accounts to those financial institutions looking for deposit documents when their customers open a NYDIG account. The Bitcoin Deposit Disclosure Program provides compliant content required by U.S. banks and credit unions to be compliant with NYDIG’s Bitcoin program. By leveraging the NYDIG platform with Wolters Kluwer-compliant content, U.S. banks and credit unions are gaining the confidence to meet the growing mainstream interest in Bitcoin in order to retain and grow their customer base and increase non-interest income opportunities.
“We are excited to partner with an innovative financial technology company like NYDIG to support their growth while remaining safe and compliant,” said Steve Meirink, executive vice president and general manager of Wolters Kluwer Compliance Solutions. “With regulatory review and oversight expected well into the future, our robust team of legal and compliance experts will continue to monitor and update our compliance content. Financial institutions working with NYDIG will benefit from this collaboration and reassure them that their disclosures are compliant and meet their regulatory obligations. “
“This important relationship illustrates why many financial institutions have chosen NYDIG as their digital asset partner. If you’re a financial institution, the process of providing access to Bitcoin is more than just an exercise in technology, but in compliance and regulation, ”said Patrick Sells, NYDIG’s chief innovation officer. “Wolters Kluwer’s knowledge and experience in providing regulatory risk assessments and deposit disclosure to US financial institutions – and his understanding of key US regulatory issues related to digital assets – are critical to the industry.”
Wolters Kluwer Compliance Solutions is a market-leading and trusted provider of risk management and regulatory compliance solutions and services for US banks and credit unions, insurance companies and investment firms. The company, which is part of the Governance, Risk & Compliance (GRC) division of Wolters Kluwer, helps these financial institutions to efficiently manage risk and regulatory compliance obligations and to gain the necessary insights in order to focus on better service for their customers and focus on growing their business.
Wolters Kluwer’s GRC division offers a range of expert solutions to help financial institutions cope with regulatory and risk-related obligations. Wolters Kluwer Compliance Solutions’ iLien Motor Vehicle enables the editing and management of vehicle titles and liens, helping to solve the most unique and complex title perfection challenges. OneSumX® for Regulatory Change Management tracks and organizes regulatory changes to create structured, value-adding content through a single data feed combined with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is now a global leader in providing integrated regulatory compliance and reporting solutions. The division’s legal solutions are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.
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